June 3, 2014 / 3:12 AM / 3 years ago

MARKET EYE-USD/INR seen edging higher at open; RBI policy decision eyed

* USD/INR seen edging higher versus its close of 59.1525/1625 on
Monday, tracking losses in most other Asian currencies versus
the dollar with caution prevailing ahead of the central bank's
monetary policy review decision due at 0530 GMT.
* Reserve Bank of India Governor Raghuram Rajan is expected to
keep the country's key lending rate unchanged and temper his
tough rhetoric on inflation in a conciliatory gesture to a new
government elected on a platform of reviving economic growth.
 
* Most analysts in the Reuters poll also expect no change in the
policy rates. 
* Traders will monitor domestic shares for cues on foreign fund
flows. The Nifty futures traded in Singapore currently
up 0.3 percent. 
* Most Asian currencies trading weaker against the dollar. See
 for a snapshot.
* The pair seen trading at 59.21/23 in the offshore non
deliverable forwards.

 (swati.bhat@thomsonreuters.com/;
swati.bhat.thomsonreuters.com@reuters.net)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below